McDonald’s Co. (NYSE:MCD) Shares Purchased by Portside Wealth Group LLC

Portside Wealth Group LLC grew its holdings in shares of McDonald’s Co. (NYSE:MCD) by 6.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 6,033 shares of the fast-food giant’s stock after buying an additional 355 shares during the period. Portside Wealth Group LLC’s holdings in McDonald’s were worth $1,885,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Moss Adams Wealth Advisors LLC increased its position in McDonald’s by 4.5% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 3,418 shares of the fast-food giant’s stock worth $1,068,000 after purchasing an additional 146 shares during the period. NewSquare Capital LLC increased its position in McDonald’s by 337.3% during the 1st quarter. NewSquare Capital LLC now owns 293 shares of the fast-food giant’s stock worth $92,000 after purchasing an additional 226 shares during the period. Toth Financial Advisory Corp increased its position in McDonald’s by 0.8% during the 1st quarter. Toth Financial Advisory Corp now owns 27,955 shares of the fast-food giant’s stock worth $8,732,000 after purchasing an additional 209 shares during the period. SSA Swiss Advisors AG acquired a new position in McDonald’s during the 1st quarter worth approximately $175,000. Finally, First Citizens Bank & Trust Co. increased its position in McDonald’s by 0.5% during the 1st quarter. First Citizens Bank & Trust Co. now owns 14,055 shares of the fast-food giant’s stock worth $4,390,000 after purchasing an additional 63 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $315.07, for a total value of $295,850.73. Following the completion of the sale, the insider now directly owns 11,161 shares in the company, valued at approximately $3,516,496.27. This represents a 7.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

MCD has been the topic of several research analyst reports. Truist Financial set a $350.00 price target on McDonald’s in a research note on Friday, May 2nd. Barclays boosted their price target on McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Bank of America boosted their price target on McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. boosted their price target on McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $345.00 price target (up previously from $340.00) on shares of McDonald’s in a research note on Monday, May 5th. Thirteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.96.

McDonald’s Stock Down 0.5%

MCD stock opened at $307.44 on Monday. The company has a market cap of $219.83 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 3.10 and a beta of 0.56. The business has a fifty day simple moving average of $312.29 and a 200-day simple moving average of $302.76. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting analysts’ consensus estimates of $2.67. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.70 EPS. As a group, analysts expect that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $1.77 per share. The ex-dividend date is Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.30%. McDonald’s’s payout ratio is 62.49%.

McDonald’s Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.